IHR signs insourcing services agreement with ANB

Logo of International Human Resources Co. (IHR)

International Human Resources Co. (IHR) signed a framework agreement with Arab National Bank (ANB) to provide human resources services (insourcing), based on mutually agreed purchase orders and pricing terms defined in the framework agreement.

In a statement to Tadawul, the company said all required signatures had been completed, with the signed agreement received on July 9. The contract is valid for 12 months and will automatically renew for a similar period unless either party notifies the other at least 30 days prior to expiry.

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The agreement is expected to have a positive financial impact on the company, contingent upon the receipt of separate purchase orders under the contract’s terms.

The statement pointed out that any purchase orders deemed as material events under the Capital Market Authority regulations will be announced separately, including the relevant financial periods.

There are no related parties to the deal, the statement added.